Few advantages are as sought after by parents for their children than an education that will enable them to grow professionally and enjoy the benefits such an education can help bestow. The federal government supports and encourages their efforts to provide that education through various programs and income tax incentives.
This course will examine the programs, credits, deductions and federal income tax treatment of various items that affect saving for and financing an individual’s education. In so doing, it will consider:
Learning Objectives:
I. Identify the features and tax benefits of qualified tuition programs available under IRC §529
II. Recognize the limits and tax treatment of contributions to and distributions from a Coverdell education savings account (ESA)
III. Identify the tax treatment of interest earned under qualified U.S. savings bonds used to pay certain education expenses
IV. Apply the American opportunity and lifetime learning credit rules
V. Recognize the tax treatment given to scholarships, fellowships and other types of educational assistance
VI. Apply the federal income tax rules applicable to student loan interest, payment of tuition and fees, and student loan cancellations and repayment assistance
Instructional Method: Self-Study
Updated: 1/29/15
Required Components: Written Materials
CPE Final Exam Required Passage Grade: 70%
Please Note: This course must be completed within 1 year of date of receipt of this course for CPE credit.
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